Freedom Financial Hldgs. Inc. (FDVA)

[Enterprising Investor]

Freedom Bank Announces Details of $3 Million Rights Offering (12/17/14)

FAIRFAX, Va.--(BUSINESS WIRE)--Freedom Bank of Virginia (Bank) (OTCQB:FDVA) announces the Board of Directors has approved details of $3 million stock rights offering. The rights offering follows the $1.5 million before expenses raised from new shareholders in a general offering. This rights offering will be units containing five (5) shares of common stock and one (1) warrant to purchase a share of common stock for up to two years in the future. The pricing for the stock is $9.00 per share and the warrant will allow the purchase of an additional share at $9.00 for up to two (2) years into the future. It will begin December 22, 2014 for shareholders of record as of December 12, 2014. It will end January 30, 2015. All shareholders of record as of December 12, 2014 will be eligible to participate in this rights offering. The proceeds will continue funding organic growth, allow further branching, increase the lending staff, expand the bank’s mortgage division and possible merger and acquisition activity. Any shares not purchased by right by shareholders will become available to the other shareholders in the offering.

Freedom Bank’s Chairman, Richard Litman said, “The Bank performed well the past several years. The Board chose a rights offering so shareholders can continue participating in current growth and through the warrant, the future growth of the Bank.”

For more information on the offering, please contact Craig S. Underhill, President & CEO at [phone] or email at [e-mail].

Freedom Bank is a community-oriented, locally-owned bank with locations in Fairfax, Vienna and Reston, Virginia. For information about Freedom Bank’s deposit and loan services, visit the Bank’s website at www.freedombankva.com.

http://www.businesswire.com/news/home/20141218006432/en/Freedom-Bank%C2%A0Announces%C2%A0Details-of%C2%A03-Million%C2%A0Rights-Offering#.VJNdIVs4